bharat heavy electricals limited letter to shareholders
TRANSCRIPT
Bharat Heavy Electricals Limited
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Dear Shareholders,
The past year has indeed been a year of great challenge with the COVID-19 pandemic affecting economies across the globe, including the Indian economy. The pandemic also seriously affected your company’s performance. However, your company has shown resilience in dealing with the situation and supplemented the national efforts while at the same time worked towards strengthening its own foundations for long term growth.
From the initial days of the pandemic itself, your company has been at the forefront in ensuring safety and well-being of its employees, their families and supporting the society at large. This continued in the second wave as well, with the company supplying over 5,75,000 Cu Mtrs, i.e., over 80,000 cylinders of medical oxygen. BHEL was, in fact, the major source of emergency medical oxygen for Uttarakhand, Western UP, city of Bhopal, etc., which resulted in saving many lives. We have futher developed and supplied medical oxygen plants for hospitals, in collaboration with CSIR-IIP, in record time. Your company also developed and manufactured disinfection equipment for mass sanitization of towns and cities, and upgraded company’s hospitals and dispensaries. In keeping with its ethos as a caring company, BHEL introduced an assistance scheme for taking care of families of employees who unfortunately succumbed to the pandemic.
While the second wave of COVID has hit the country and your company hard, BHEL has taken steps for ensuring rapid recovery of operations and made efforts for mitigating effects of any further waves by taking steps to make workplaces COVID compliant as well as an extensive vaccination campaign at its units as well as project sites. The company is making efforts to ensure vaccination of not just employees and their families, but also of all persons working in these premises. To avoid any stoppage of work due to non-availability of oxygen (as happened in the second wave) as well as to support the community at large, in case of any future eventuality, we are additionally installing oxygen generation plants in those units which do not have oxygen production facilities at the moment.
Key performance highlights
Disruptions caused by the first wave of COVID had serious repercussions on the company’s operations, both in the manufacturing units as well as at project sites. While all
Letter to Shareholders
BHEL is on its journey to transform itself into a vibrant and growing Global Engineering Organization
Dr. Nalin Shinghal Chairman & Managing Director
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Dear Shareholders,
It is an honor and a privilege to present the 56th Annual Report to our valued shareholders. I am writing to you at a time when the entire world is combating with the Covid-19 pandemic, which has far reaching consequences on societies, economies and businesses across the globe. The pandemic has added yet another layer of complexity to an already challenging business environment with falling global GDP growth rates and decline in ordering of thermal power projects. Now that the world is slowly coming to terms with this unprecedented crisis, it is time for us to adjust to the ‘new normal’ and reorient ourselves accordingly.Covid response & contributionYour company has undertaken various steps to deal with COVID-19 situation and responded with agility to minimize the impact on its stakeholders. Business continuity & preparedness has been ensured during the lockdown through the ‘work-from-home’ mode, especially in areas such as design and engineering, training, knowledge sharing and other HR related activities, finance related activities, etc. During the lockdown, work continued at critical sites with the support of local authorities, which resulted in recommissioning of 1x800 MW Kothagudem thermal project and commissioning of Bhadradri Unit-1 in Telangana. Your company has also risen to the occasion to support the national efforts on COVID-19 through monetary contribution of ` 15.72 crore to PMCARES fund as well as through development of multiple products for in-house use and by various govt. departments/ municipalities and has also provided support to local communities in every possible way.Key performance highlightsEven though the lockdown was imposed in the country from 25th March 2020, the impact on your company’s operations was being felt much earlier, on account of disruptions in material supplies from China,
efforts were made to subsequently resume activities at normal levels, the impact is visible in the annual results.
• Your company secured orders worth I13,472 Cr despite the sluggishness in ordering by customers on account of COVID related uncertainties. Your company has booked its highest ever orders in hydro power segment and was also successful in retaining its leadership in engineering and manufacturing of equipment for nuclear power and emission control business.
• Your company has won its first order for Sulphur Recovery Unit (525 TPD) from IOCL Paradip, and its successful completion will establish BHEL as an LSTK player for process packages in upcoming opportunities in the Downstream Oil & Gas sector.
• The company recorded a turnover of I16,296 Cr with a net loss of I2,717 Cr in 2020-21. The loss includes an additional merit based provisioning of about I1,800 Cr. made after detailed review of receivables, on an exceptional basis, which was taken up by the company as a measure of utmost financial prudence, so as to strengthen receivables management process and improve quality of assets in the balance sheet. Further, the loss has been exacerbated due to non-productive expenses during the COVID period (salaries/ expenses for which there was no production)
• Your company has taken a major initiative for change of strategy from Revenue Centric to Project Centric operations, which have impacted the revenues in the short term but will lead to timely completion of projects and improvement in customer satisfaction, as well as significantly improve long term business prospects.
• Concerted efforts for cash collection resulted in liquidation of 82% of the current year billing, which is the best in the last 10 years and the company achieved a cash surplus of I383 Cr. in FY 2020-21 as against a deficit of I3,587 Cr. in previous year.
durable sales and hiring of urban workers suggest that the consumption, investment and external demand are regaining traction.
Investment demand still remains weak. However, improving capacity utilization, rising steel consumption, congenial monetary and fiscal policies and the economic packages & other measures announced by the Government are expected to kick-start a long-awaited revival.
Although ordering for new coal-based power generation equipment remains weak, demand for emission control business is strong and growing. Growth in urban mobility in rail transportation sector, thrust on indigenization in defence & aerospace sectors, and expected expansion in oil & gas sector will continue to present new opportunities. The AatmaNirbhar Bharat Initiative of the government is also creating multiple opportunities for the company.
Future perspective
While the challenges continue, the situation is also throwing up a number of opportunities. The company believes that timely & high quality delivery of products & projects, aggressive efforts in emerging technologies, collaborative working with government, PSUs, private industry, R&D institutions and academia will be the foundations for building a strong future. In this situation, the company has set out to reinvigorate itself by following a two pronged strategy:
a. in the short run, complete & close projects expeditiously which will also result in release of cash to meet its operations; expand existing conventional business through enhanced efforts in pollution control systems, spares & services; strengthening of IT and technology base; rebuilding a Quality First culture across the organization; and vigorous cost cutting for achieving business growth in a competitive environment and
b. in the long run focus on regaining technology leadership and strengthening diversification initiatives.
The past year has been a year of consolidation for the company, wherein a number of initiatives taken up in the previous year have come to bear fruit and are playing a vital role in efforts towards building a BHEL of the future. The company has focused on revamping project execution through successful implementation of the IPMS (Integrated Project Management System) supplemented with the ongoing Site Data Digitization project, ensuring sequential dispatches, closure of punch points, and switching over from Revenue Centric to Project Centric philosophy.
The company has worked aggressively towards realizing its pending dues through taking up issues at multiple levels with the state and central governments and taking required
Improved execution coupled with concerted efforts for cash collection resulted in the company being cash surplus in FY 2020-21 as against a deficit of I3,587 Cr. in previous year
Economic & business environment
After the pandemic induced contraction, domestic economic activity is normalizing with the ebbing of the second wave of the virus and the phased reopening of the economy. Several high-frequency indicators, viz., registration of automobiles, electricity consumption, non-oil non-gold imports, consumer
Bharat Heavy Electricals Limited
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measures for limiting exposure in projects where payments are not being received. This has resulted in stabilizing of the cash situation, with the company becoming cash surplus in 2020-21 despite a net loss of I2,717 Cr.
Your company has embarked on a journey for making BHEL a digitally enabled organization for improving the overall efficiency of the organization manifold as well as to utilize IT for revenue growth. We have achieved full switch over to e-office, a major step towards a paperless office, and introduced secure Work From Home facility to ensure seamless work during lockdowns. Multiple initiatives for introducing IT solutions on the shop floor and work places, for project execution, quality checks, etc., are under various stages of implementation.
Ensuring quality of products and services is a critical success factor in today’s business environment. Towards this end, a companywide 'Quality First' initiative was launched in the previous year with focus on inculcating a quality mindset in all spheres of company's activities. Though the true impact of any major quality initiative is usually visible only in the long term, initial successes include Platinum recognition in CII EXIM Bank Awards for Business Excellence 2020 for BHEL's Haridwar unit - received after a gap of 14 years and the 'Golden Peacock National Quality Award' for the year 2020.
In line with its efforts for achieving profitable growth, the company has also created a Cost Optimization Group to identify scope for cost cutting in every aspect of its operations. The slew of cost reduction efforts by the company cover design, procurement, overheads, inventory control, logistics , budgetary controls among others.
Your company is cognizant of the ongoing energy transition and subdued economic growth in its current areas of operations. Accordingly, definitive steps are being taken both for maintaining growth in the existing portfolios as well as targeting opportunities in the new, non-coal based businesses. As a result, the company retained its dominant position in the nuclear, hydro and thermal emission control businesses, booking highest-ever orders of more than I3,000 Cr. in hydro sector, maintaining market leadership as the sole Indian supplier of nuclear steam turbines in the nuclear sector as well as retaining highest market share in the FGD and SCR segment. Company’s efforts towards increasing contribution of non-coal business are also bearing fruit with the receipt of first order in the downstream oil and gas segment. Further, concerted efforts are also being made for developing a range of new products, systems and solutions for railways, urban mobility, defence, aerospace, among others.
In the long term, the company is targeting to regain its technology lead by investing in technologies of the future including various elements of the Hydrogen economy (generation, storage, utilization), for which a separate business vertical has been created. This business group is tasked with the objective of identifying opportunities for BHEL, in the Hydrogen economy, and to take up technology, manufacturing as well as business development efforts for the same, on fast-track basis. We believe that, going forward, Additive Manufacturing is going to disrupt all areas of manufacturing for which another team has been set up to identify early opportunities in this area. Other areas where dedicated teams have been deployed are Industry 4.0 solutions for process industries (remote monitoring & diagnostics, spares & services business, IIoT for internal operations), Coal to Methanol, Upstream Solar Value Chain, and Battery Energy Systems.
However, existence of vast coal reserves in the country and imperatives to keep imports under control, coupled with the need to retire old generating sets which have lower efficiency, higher pollution and are at end of life stage, are expected to lead to opportunities in the thermal sector in the medium to long term, with focus on environment friendly clean coal technologies including gasification/ Coal to Methanol, Carbon Capture, etc., which your company is poised to capitalize upon. The successful completion of more efficient and greener Advanced Ultra Supercritical (AUSC) technology is a step in this direction and will further reinforce our technological prowess in the thermal business.
Keeping with our philosophy that employees are the biggest assets of our company, a number of initiatives for re-skilling of the workforce, leadership development, strengthening of internal communication and knowledge sharing, simplifying policies and various digital-enabled workplace solutions are being implemented for better productivity and engagement of employees.
These efforts will support your company in its journey to transform itself into a vibrant Global Engineering Organization.
From a long term organisational & national perspective, BHEL is working on futuristic technologies such as Hydrogen economy, Additive Manufacturing, Industry 4.0 solutions, Coal to Methanol, Upstream Solar Value Chain, and Battery Energy Systems
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Capitalizing opportunities under the AatmaNirbhar Bharat initiative
The present geopolitical situation and the AatmaNirbhar Bharat initiative give us an opportunity to again take the lead in manufacturing in the country – albeit in different products & technologies – which would be more relevant to the India of the future.
A number of steps have been taken in this direction through formation of Make In India Business Development Group which is targeting to indigenize 50% of our manufactured imports (excluding those under technology collaboration agreements) in the near term, partnering with other PSUs for indigenous development of items imported by them, as well as in-house development and manufacture of major items in the country’s engineering imports basket. Through these efforts BHEL is already getting developmental orders from various customers, providing twin benefit of increasing capacity utilization of the company as well as help reduce imports in the country. In addition, your company is also working closely with local industries / suppliers to develop their capabilities and thus replace imports.
BHEL is focusing on capitalizing opportunities under the AatmaNirbhar Bharat initiative providing twin benefits of increasing capacity utilization as well as helping reduce imports in the country
Acknowledgement
The company is steadily moving forward on its various initiatives despite the numerous challenges it faces which would not be possible without the support of various stakeholders. I would like to express sincere thanks and gratitude to our valued customers as well as other business partners for their continued confidence, our employees for their engagement, passion and perseverance, members of the Board for their guidance, and you, our esteemed shareholders for your support and trust in the company. I would like to thank various Ministries of Government of India, particularly the Ministry of Heavy Industries for their valuable guidance and support in all our endeavours.
I am confident that multiple initiatives currently under implementation will help us to overcome the immediate challenges and build a strong base for long-term sustained and profitable growth of your company.
With best wishes,
(Dr. Nalin Shinghal)
Chairman & Managing Director
New Delhi August 27, 2021
Bharat Heavy Electricals Limited
Addl. Charge of Director (Power) w.e.f. 01.02.2021
Leadership at BHELBoard of Directors as on 25.08.2021
Functional Directors
Dr. Nalin ShinghalChairman & Managing Director
Shri Subodh GuptaDirector (Finance)
Shri Anil KapoorDirector
(Human Resources)
Ms. Renuka GeraDirector
(Industrial Systems & Products)Addl. Charge of Director (Engineering, R&D) w.e.f. 01.08.2021
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Government Directors/ Part-time Official Directors
Independent Directors
Shri Jeetendra SinghJoint Secretary
Ministry of Heavy Industries
Shri Shashank PriyaAdditional Secretary & Financial Adviser
Ministry of Commerce & Industry
Shri Rajesh SharmaIndependent Director
Shri Raj Kamal BindalIndependent Director
Shri Manish KapoorIndependent Director
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Bharat Heavy Electricals Limited
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Rajiv SharmaED (ROD), New Delhi
Shakil Kumar ManochaED (PS-Mktg.-T&G),
New Delhi
Anil JoshiED (COC), New Delhi
A K JainED (EDN), Bengaluru
Subodh GuptaDirector (Finance)
Anil KapoorDirector (Human Resources)
Addl. Charge of Director (Power) w.e.f 01.02.2021
Renuka GeraDirector (Industrial Systems
& Products)Addl. Charge of Director (Engineering,
R&D) w.e.f. 01.08.2021
Jai Prakash SinghED (MII-BDG), Noida
Addl. Charge-CFP & PPPU & PC
C AnandaED (HEP), Bhopal
P Jagadiswara ReddyED (HPEP), Hyderabad
Sanjay GulatiED (HEEP & CFFP), Haridwar
Koushik AcharyaED (PS-NR), Noida
Pulak MukhopadhyayED (PS-TS), Noida
Dr. Balvir TalwarED (HR&CC), New Delhi
Ratnanav AcharyaED (Corporate R&D),
Hyderabad
Alka TutejaED (PS-PEM), Noida
Rajiv BhatnagarED (CSM), Secretary-MC
Addl. Charge-IO, New Delhi
S K GroverED (ESSG & New Business
Area), New Delhi
Leadership at BHELManagement Team
as on 25.08.2021
Dr. Nalin ShinghalChairman & Managing Director
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G MuraliED (PS-SR), Chennai
Upinder Singh MatharuED (PS-ER), Kolkata
Pankaj GuptaED (SBD), Bengaluru
S B NaithaniED (CDT & CTM), New Delhi
Jai Prakash SrivastavaED (DABG), New Delhi
Addl. Charge – CPPP & PMG
Santosh NairGM I/c (PS-WR), Nagpur
Pravin Chandra JhaED (SSBG), Noida
Manoj Kumar SinhaGM I/c (HBG), Noida
S V SrinivasanGM I/c (HPBP), Tiruchy
P Sudhir BabuGM I/c (PE & SD), Hyderabad
T S MuraliGM I/c (CQ & BE), New Delhi
Milind Girish KoppikarGM I/c (ISG), Bengaluru
Rajeev SinghGM I/c (BAP), Ranipet
Meena KesriGM I/c (TBG), Noida
Pushpendra Kumar SaxenaGM I/c (PS-HQ & PS-PMG), New Delhi
A B GuptaGM & Head (TP), Jhansi
Pankaj JainGM I/c (Corporate Finance),
New Delhi
Amit KerkettaGM & Head (CAPEX & SS&P),
New DelhiAddl. Charge – FSIP, Jagdishpur
Sushil Kumar BavejaGM (CLD & PSG), Noida
B BalasubramanianGM & Head (NBG), Noida
K S MurthyGM & Head (COM), New Delhi
Rajeev Kumar GuptaGM (TBSG), New Delhi
T Anantha SayanamGM (Corporate Internal
Audit), New Delhi
Rajeev KalraCompany Secretary
Sanjeev Kumar KakGM & Head (PCSG), Noida
Bharat Heavy Electricals Limited
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BOARD OF DIRECTORS
COMMITTEE OF FUNCTIONAL DIRECTORS MANAGEMENT COMMITTEE
CHAIRMAN & MANAGING DIRECTOR
Corp R&D, Hyderabad Ceramic Tech. Institute, Bengaluru ASSCP, Gurugram PS – Marketing (Thermal & Gas)
NTPC Business Group
Nuclear Business Group
Hydro Business Group
Project Management Group
Technical Services
Project Closure Synergy Group
Project Engineering Management
Industrial Systems Group, Bengaluru
PS Northern Region, Noida
Transportation Business & Systems Group
Defence & Aerospace Business Group
International Operations
Transmission Business Group
Project Engg & Systems Division
PS Southern Region, Chennai
PS Eastern Region, Kolkata
PS Western Region, Nagpur
PS – HQ, MSX, HR
Spares & Services Business Group Heavy Equipment Repair Plant ,Varanasi
Captive Power & Process Plants IS – Project Management Group
Regional Operations Division (Transmission, Mechanical & Electrical products)
Energy Storage Solutions Group Water Business
CAPEX Sourcing Strategy & Policy
Corporate Communication
Central Public Information Office
Direct Tax Management Indirect Tax Management
Cost Reduction Initiatives Operations Improvement Reward Programmes
Manpower Planning & Acquisition Manpower Auditing Talent Management
Make in India – Business Development Group
Vigilance
Corporate Operations Management
Innovation Strategy & Execution Advanced Ultra Supercritical (AUSC) Project Technology Licensing Knowledge Management Advanced Manufacturing Processes & Technologies Joint Ventures, Mergers & Acquisitions
Digital Strategy & Governance Products and Services Digitalization IT Systems & Application Development IT Service, Security & Support IT Infrastructure Management
Budgeting & Budgetary Control Project & General Insurance Corporate Books & Accounts Financial Planning & Strategies Foreign Trade Policy
Receivables Management Treasury & Cash Management Banking Operations Forex Management Project Finance
Succession Planning Employee Engagement Performance Management
Strategic Planning & Execution Risk Identification & Management External Engagement Transformation New Growth Areas & Emerging Tech Strategy Hydrogen Business Group Chief Investor Relations Office Enterprise Risk Office
HR – Policy HR Analytics Medical Services Alternative Dispute Resolution & Corp. Law Industrial Relations
New Quality Initiatives Total Quality Management Quality Certification Field Quality Assurance
Statutory & Cost Audit Internal Audit C&AG Audit
BHEL and its units,regions andbusiness sectors
Corp. Social Responsibility Health Safety & Environment Administration & Security
Secretarial Compliances & Investor Services Companies Act & Listing Agreement AGM, Board & Board Level Committees Meetings
L&D Strategy: formulation, alignment & reporting Tech., Behavioral, Managerial, Skill Training
Corporate Research& Development
Heavy Electrical Plant
Heavy Electrical Equipment Plant Central Foundry Forge Plant
Boiler Auxiliaries Plant
Heavy Power Equipment Plant
Transformer Plant
Solar Business Division, Bengaluru 2
Component Fabrication Plant¹
Heavy Plates and Vessels Plant
Fabrication, Stamping & Insulator Plant ³
Electronics Division, Bengaluru Electronics Systems Division, Bengaluru Electrical Machine Repair Plant, Mumbai
Jhansi
Jagdishpur
Rudrapur
Visakhapatnam
DirectorPower
DirectorIndustrial Systems
& Products
DirectorFinance
DirectorEngineering, R&D
DirectorHuman Resources
Chief Vigilance Officer
Corporate TechnologyManagement
CAPEX & SS&P
Corporate DigitalTransformation
Corporate Quality &Business Excellence
Funds Management& Banking
Corporate Learning& Development
Corporate StrategicManagement
Corporate Finance
Taxation
Audit & Compliance
Cost Optimisation Cell
Corporate HR & CC
People Strategy Group
Company Secretary
1 : Report to Director (Human Resources) 2 : Report to Director (Industrial Systems & Products)3 : Report to Director (Engineering, R&D)
LEADERSHIP AT BHELCORPORATE ORGANISATIONAL STRUCTURE(As on 25.08.2021)
Industrial Valves Plant, Goindwal
High Pressure Boiler Plant, Tiruchy Seamless Steel Tube Plant, Tiruchy
Power Plant Piping Unit, Thirumayam & Piping Centre, Chennai¹
Corporate OperationsManagement
Bhopal
Haridwar
Hyderabad
Tiruchy
Ranipet
Bengaluru
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BOARD OF DIRECTORS
COMMITTEE OF FUNCTIONAL DIRECTORS MANAGEMENT COMMITTEE
CHAIRMAN & MANAGING DIRECTOR
Corp R&D, Hyderabad Ceramic Tech. Institute, Bengaluru ASSCP, Gurugram PS – Marketing (Thermal & Gas)
NTPC Business Group
Nuclear Business Group
Hydro Business Group
Project Management Group
Technical Services
Project Closure Synergy Group
Project Engineering Management
Industrial Systems Group, Bengaluru
PS Northern Region, Noida
Transportation Business & Systems Group
Defence & Aerospace Business Group
International Operations
Transmission Business Group
Project Engg & Systems Division
PS Southern Region, Chennai
PS Eastern Region, Kolkata
PS Western Region, Nagpur
PS – HQ, MSX, HR
Spares & Services Business Group Heavy Equipment Repair Plant ,Varanasi
Captive Power & Process Plants IS – Project Management Group
Regional Operations Division (Transmission, Mechanical & Electrical products)
Energy Storage Solutions Group Water Business
CAPEX Sourcing Strategy & Policy
Corporate Communication
Central Public Information Office
Direct Tax Management Indirect Tax Management
Cost Reduction Initiatives Operations Improvement Reward Programmes
Manpower Planning & Acquisition Manpower Auditing Talent Management
Make in India – Business Development Group
Vigilance
Corporate Operations Management
Innovation Strategy & Execution Advanced Ultra Supercritical (AUSC) Project Technology Licensing Knowledge Management Advanced Manufacturing Processes & Technologies Joint Ventures, Mergers & Acquisitions
Digital Strategy & Governance Products and Services Digitalization IT Systems & Application Development IT Service, Security & Support IT Infrastructure Management
Budgeting & Budgetary Control Project & General Insurance Corporate Books & Accounts Financial Planning & Strategies Foreign Trade Policy
Receivables Management Treasury & Cash Management Banking Operations Forex Management Project Finance
Succession Planning Employee Engagement Performance Management
Strategic Planning & Execution Risk Identification & Management External Engagement Transformation New Growth Areas & Emerging Tech Strategy Hydrogen Business Group Chief Investor Relations Office Enterprise Risk Office
HR – Policy HR Analytics Medical Services Alternative Dispute Resolution & Corp. Law Industrial Relations
New Quality Initiatives Total Quality Management Quality Certification Field Quality Assurance
Statutory & Cost Audit Internal Audit C&AG Audit
BHEL and its units,regions andbusiness sectors
Corp. Social Responsibility Health Safety & Environment Administration & Security
Secretarial Compliances & Investor Services Companies Act & Listing Agreement AGM, Board & Board Level Committees Meetings
L&D Strategy: formulation, alignment & reporting Tech., Behavioral, Managerial, Skill Training
Corporate Research& Development
Heavy Electrical Plant
Heavy Electrical Equipment Plant Central Foundry Forge Plant
Boiler Auxiliaries Plant
Heavy Power Equipment Plant
Transformer Plant
Solar Business Division, Bengaluru 2
Component Fabrication Plant¹
Heavy Plates and Vessels Plant
Fabrication, Stamping & Insulator Plant ³
Electronics Division, Bengaluru Electronics Systems Division, Bengaluru Electrical Machine Repair Plant, Mumbai
Jhansi
Jagdishpur
Rudrapur
Visakhapatnam
DirectorPower
DirectorIndustrial Systems
& Products
DirectorFinance
DirectorEngineering, R&D
DirectorHuman Resources
Chief Vigilance Officer
Corporate TechnologyManagement
CAPEX & SS&P
Corporate DigitalTransformation
Corporate Quality &Business Excellence
Funds Management& Banking
Corporate Learning& Development
Corporate StrategicManagement
Corporate Finance
Taxation
Audit & Compliance
Cost Optimisation Cell
Corporate HR & CC
People Strategy Group
Company Secretary
1 : Report to Director (Human Resources) 2 : Report to Director (Industrial Systems & Products)3 : Report to Director (Engineering, R&D)
LEADERSHIP AT BHELCORPORATE ORGANISATIONAL STRUCTURE(As on 25.08.2021)
Industrial Valves Plant, Goindwal
High Pressure Boiler Plant, Tiruchy Seamless Steel Tube Plant, Tiruchy
Power Plant Piping Unit, Thirumayam & Piping Centre, Chennai¹
Corporate OperationsManagement
Bhopal
Haridwar
Hyderabad
Tiruchy
Ranipet
Bengaluru
Bharat Heavy Electricals Limited
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YEAR AT A GLANCE 2020-21(Figures are in ₹ crore unless otherwise stated)
3992
0
2988
5
2608
1
7243 16
97532
294
3264
0
3143
2
2918
1
2648
4
1.24
0.920.83
0.25
0.64
2016-17 2017-18 2018-19 2019-20 2020-21Market Capitalisation Net worth
Market Capitalisation to Net worth
2.131.92
1.671.45 1.39
2016-17 2017-18 2018-19 2019-20 2020-21 2016-17 2017-18 2018-19 2019-20 2020-21
Market Capitalisation to Net Worth
Cash flow from operating activities
Order outstanding and received Manpower (nos) and Revenue per employee (K Lacs)Revenue from Operations
Current Ratio
71
56 59
73
Project centric approach coupled with better receivable management practices led to
improvement in performance.
82
Liquidation out of current year net billing %
562991
-3856
-2892
562
2016-17 2017-18 2018-19 2019-20 2020-21
Inventory positionTrade Receivables and no. of days
7372
6025 77
97 8905
7191
2017 2018 2019 2020 2021
1277
9 1730
3
1579
6
1164
1
7213
154
192165 175
134
2017 2018 2019 2020 2021
Trade receivable
Trade receivable (In No. of days)
105200118000
109000 108700 102090
23489
40932
23859 2354713472
2016-17 2017-18 2018-19 2019-20 2020-21
Orders outstanding Orders received
28599 2881330423
21459
17308
2016-17 2017-18 2018-19 2019-20 2020-21
1152
5
1094
3
1040
0
1007
5
9742
2829
6
2659
7
2507
1
2367
7
2238
9
39821 37540
35471 33752 32131 70 74
83
61
51
2016-17 2017-18 2018-19 2019-20 2020-21
Executives (Nos)Total (Nos)
Non executives (Nos)Revenue per employee (Rs. / Lacs)
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Annual Report 2020-21
YEARglanceat a
Total Order Book
01
02
03
04
05
10
11
12
07
08
09
06Focus on developing
non-coal businesshighest ever orders
in Hydro;leadership maintained
in NuclearSecured first-ever
LSTK order forProcess Unit for
Downstream Oil & Gasbusiness
193 GW+power generating capacity
installed in Indiaand abroad
till date
J1,02,000 Cr.
Single largestmarket sharein emission control
equipment businessin the country
AUSC development on track;R&D phase completed;
HP & IP turbine design completed;creep-fatigue damage estimation Test rig for
turbine rotorcommissioned
Delivered the100th
Space gradeBattery to
U R Rao SatelliteCentre, ISRO
1.2 GW+ Solar PV portfolio;
5 MW FloatingSolar Power plant
at Sagardighicommissioned
27.2 Million Unitsof power generated
through 28 MWp in-house
renewable energysystems
32,131Human capital base
9,000+engineers
> J700 Cr. investedin R&D and innovation;
526 patents ©rights filed;
5,052 TotalIntellectual Capital
Over K180 Cr. investedin company’s assets
for capability building,productivity enhancement
& indigenization
2020-21